Why Turkey Is Not Fixing It's Hyperinflation Problem | Economics Explained

The video discusses Turkey's economic journey, highlighting its rapid growth and current inflation crisis. It explores historical inflation issues, economic reforms, and the development of industrial and tourism sectors. The current crisis is attributed to political and economic mismanagement, with potential solutions and risks outlined. The video concludes with Turkey's economic ranking and future prospects.

What recent economic issue is Turkey facing that is causing concern?

• Over-reliance on tourism

• Lack of natural resources

• Decreasing population

• High levels of inflation

What was a major cause of Turkey's inflation spikes in the 1980s and 1990s?

• Natural disasters

• Tourism decline

• Foreign debt accumulation

• High oil prices

What significant change did the 2001 economic reforms bring to Turkey?

• Introduction of a new currency

• Discovery of oil reserves

• Autonomy for the Central Bank

• Increase in tourism

Which sector has been a major contributor to Turkey's economy?

• Automotive industry

• Mining

• Agriculture

• Technology

What was a consequence of Turkey's failed bid to join the EU?

• Decrease in tourism

• Higher unemployment rates

• Increased foreign investment

• Stronger currency value

What principle of Islamic finance has influenced Turkey's recent economic policies?

• Encouragement of foreign loans

• Prohibition of interest

• Focus on tourism

• Investment in technology

How did the COVID-19 pandemic impact Turkey's economy?

• Boosted tourism

• Strengthened the lira

• Increased manufacturing output

• Halted key industries

What is the purpose of Turkey's new savings account plan?

• To increase foreign investment

• To reduce unemployment

• To stabilize the lira's value

• To boost tourism

What risk does the new savings account plan pose to Turkey?

• Potential large government liability

• Increased foreign debt

• Loss of monetary autonomy

• Decrease in exports

What is Turkey's current average score on the economics leaderboard?

• 5.0 out of 10

• 3.8 out of 10

• 2.5 out of 10

• 7.0 out of 10